4,049 Shares in NetApp Inc. (NTAP) Purchased by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. purchased a new stake in NetApp Inc. (NASDAQ:NTAP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,049 shares of the data storage provider’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Afam Capital Inc. lifted its stake in shares of NetApp by 6.3% in the 4th quarter. Afam Capital Inc. now owns 20,216 shares of the data storage provider’s stock valued at $1,118,000 after purchasing an additional 1,207 shares during the period. Virtu Financial LLC acquired a new position in shares of NetApp in the 4th quarter valued at about $1,346,000. Tower Research Capital LLC TRC lifted its stake in shares of NetApp by 227.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock valued at $182,000 after purchasing an additional 2,282 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of NetApp by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,322,669 shares of the data storage provider’s stock valued at $239,131,000 after purchasing an additional 260,763 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of NetApp by 1.1% in the 4th quarter. Arizona State Retirement System now owns 185,431 shares of the data storage provider’s stock valued at $10,258,000 after purchasing an additional 2,016 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

In other news, CEO George Kurian sold 3,826 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $63.01, for a total value of $241,076.26. Following the completion of the transaction, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at $1,300,337.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.91, for a total value of $110,478.16. Following the completion of the transaction, the executive vice president now directly owns 11,884 shares of the company’s stock, valued at $664,434.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,342 shares of company stock valued at $3,491,981. 0.47% of the stock is currently owned by corporate insiders.

NTAP has been the topic of a number of recent analyst reports. Zacks Investment Research raised NetApp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, February 6th. ValuEngine raised NetApp from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. DA Davidson downgraded NetApp from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $64.00 in a research note on Tuesday, January 23rd. BMO Capital Markets raised NetApp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $43.00 to $62.00 in a research note on Thursday, November 16th. Finally, Loop Capital raised NetApp from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $56.23.

Shares of NetApp Inc. (NTAP) opened at $58.54 on Thursday. The company has a market capitalization of $15,495.27, a P/E ratio of 20.82, a PEG ratio of 1.72 and a beta of 1.33. The company has a quick ratio of 1.88, a current ratio of 1.91 and a debt-to-equity ratio of 0.71. NetApp Inc. has a 52 week low of $37.43 and a 52 week high of $64.06.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.49 billion. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. During the same period in the prior year, the company posted $0.82 earnings per share. equities research analysts predict that NetApp Inc. will post 2.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, April 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, April 5th. NetApp’s dividend payout ratio is presently -1,000.00%.

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About NetApp

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Institutional Ownership by Quarter for NetApp (NASDAQ:NTAP)

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